Madison, Georgia Property Taxes
The median property tax rate in Madison, GA is 0.91%, slightly below the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $642,800 in Madison, the typical annual property tax bill reaches $5,742, significantly higher than the national median of $2,690. Property taxes in Madison are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Madison's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Madison or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Madison, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$5,849
$5,681
Ownwell’s Madison Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Madison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madison to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Madison, Georgia
Property taxes in Madison, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madison is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Madison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madison estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Madison's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30650 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Madison provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Tax Rate
0.91%
Average Jasper County Tax Rate
1.10%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | 0.73% | 0.80% | 0.91% | 1.03% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Georgia
In Madison, Georgia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Madison, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Madison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 30650 has both the highest and lowest median tax bills, each amounting to $5,742.
Average Madison Assessed Value
$642,800
Average Jasper County Assessed Value
$170,400
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | $596,880 | $614,100 | $642,800 | $671,500 | $688,720 |
Source: Ownwell
Property Tax Bills Across Madison, Georgia
In Madison, GA, located in Jasper County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the home's market value. For example, with a median home price of $642,800, the tax bill can vary significantly. Factors influencing the tax bill include local tax rates, property improvements, and exemptions for which the homeowner may qualify. Homeowners in Madison can expect their property tax bills to range between $5,282 at the 25th percentile and $6,478 at the 90th percentile, with the median tax bill being around $5,742. This is considerably higher than the national median property tax rate of 0.99%, reflecting the higher property values in the area. Such tax rates can have a substantial impact on homeowners, affecting their overall housing costs and potentially influencing decisions about property investments and homeownership.
Average Madison Tax Bill
$5,742
Average Jasper County Tax Bill
$1,844
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30650 | $5,007 | $5,282 | $5,742 | $6,202 | $6,478 |
Source: Ownwell